Specified secured redeemable non convertible bonds carry income tax benefit subject to transferee notice to issuer within sixty days. Central Government specifies 7 year secured, redeemable, non convertible bonds (B Series) issued by Neyveli Lignite Corporation Limited as eligible under clause (ii) of sub section (1) of section 80L of the Income tax Act, by notification S.O.264(E) dated 16 3 1988; where such bonds are transferred, the transferee may claim the benefit only if the transferee notifies the issuing corporation by registered post within sixty days of the transfer.